Source: Foreign Policy
by Peter Coy
“U.S. President Donald Trump has long been of two minds about the dollar. He has said he wants it weaker to make American products cheaper in global markets, but he has also said he wants it strong so it remains the world’s dominant reserve currency. … Trump is getting the weakness he wants. The dollar has fallen 5 percent against other major currencies since his inauguration in January. But the strength he promised is nowhere to be seen. Last year, one of Trump’s key advisors, Stephen Miran, imagined a so-called Mar-a-Lago Accord in which the United States would essentially require its trading partners to help bring down the dollar’s value. That would have been, the theory goes, engineering a devaluation from a position of strength. Instead, the dollar is falling because of perceptions of American weakness.” (04/08/25)